[Congressional Record Volume 140, Number 142 (Tuesday, October 4, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: October 4, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
WHAT DEMOCRATS ARE SAYING ABOUT A REPUBLICAN ATTACK ON SOCIAL SECURITY 
                           IS UTTER NONSENSE

  (Mr. WALKER asked and was given permission to address the House for 1 
minute.)
  Mr. WALKER. Mr. Speaker, Democrats in the White House and on the 
House floor have contended that the Republican contract with America 
jeopardizes Social Security. What complete utter and irresponsible 
nonsense.
  Mr. Speaker, the contract with America contains the 10-percent debt 
buydown concept. Debt buydown is an implementation strategy for a 
balanced budget, and it works. According to the Congressional Budget 
Office, Mr. Speaker, under optimal circumstances, using taxpayer 
designation of their tax money to a special debt buydown fund, and then 
applying those savings to spending cuts, balances the budget in 6 
years.
  Here is the important point:
  Debt buydown works without touching Social Security. In fact Social 
Security is specifically and totally exempt from debt buydown spending 
cuts.
  So, Mr. Speaker, the Congressional Budget Office has certified a 
balanced budget implementation strategy that exempts Social Security 
and works. That makes everything that the Democrats are saying about a 
Republican attack on Social Security so much political nonsense.

                          ____________________